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perator of the Euroclear System, and Clearstream .5 a Banking, nano anon yme, on or about , 2015. o w CO 0 Joint Book-Running Managers E = as Morgan Stanley UBS Investment Bank Keefe, Bruyette & Woods A &Mel Company • IL' I— co The dale of this prospectus supplement is , 2015, EFTA00607796 You sho
uroclear System, and Clearstream .5 a Banking, nano anon yme, on or about , 2015. o w CO 0 Joint Book-Running Managers E = as Morgan Stanley UBS Investment Bank Keefe, Bruyette & Woods A &Mel Company • IL' I— co The dale of this prospectus supplement is , 2015, EFTA00607796 You should rely only on th
ies of The Depository Trust Company. against payment on or about June , 2016. See "Underwriting." BofA Merrill Lynch Joint Book-Running Managers Morgan Stanley UBS Investment Bank The date of this prospectus supplement is _tune , 2016. EFTA00618204 TABLE OF CONTENTS Prospectus Supplement Page About Th
itory Trust Company. against payment on or about June , 2016. See "Underwriting." BofA Merrill Lynch Joint Book-Running Managers Morgan Stanley UBS Investment Bank The date of this prospectus supplement is _tune , 2016. EFTA00618204 TABLE OF CONTENTS Prospectus Supplement Page About This Prospectus Suppl
r Clifford Chance LLP United Kingdom Oleg Popov Chief Executive Officer System Capital Management Ukraine Ruth Porat Chief Financial Officer Morgan Stanley USA Michael E. Porter Bishop William Lawrence University Harvard Business School USA Professor Roberto Poti Head of International, Renewable Edis
Israel India Kazakhstan USA USA Australia United Kingdom APG Asset Management Netherlands The Atlantic Council of the USA United States UBS Investment Bank United Kingdom Harvard Law School USA The Rock Creek Group USA Akamai Technologies Inc. USA NYSE Euronext United Kingdom The Coca-Cola Comp
rred Share of Beneficial Interest, Series C N Public Storage. PROSPECTUS SUPPLEMENT May , 2016 Joint Book-Running Managers BofA Merrill Lynch Morgan Stanley UBS Investment Bank Wells Fargo Securities EFTA00595921
neficial Interest, Series C N Public Storage. PROSPECTUS SUPPLEMENT May , 2016 Joint Book-Running Managers BofA Merrill Lynch Morgan Stanley UBS Investment Bank Wells Fargo Securities EFTA00595921
l form through the book-entry delivery system of The Depository Trust Company on or about , 2017. Joint Book-Running Managers BofA Merrill Lynch Morgan Stanley UBS Investment Bank Wells Fargo Securities , 2017 EFTA00613223 TABLE OF CONTENTS Prospectus Supplement Page About This Prospectus Supplement
he book-entry delivery system of The Depository Trust Company on or about , 2017. Joint Book-Running Managers BofA Merrill Lynch Morgan Stanley UBS Investment Bank Wells Fargo Securities , 2017 EFTA00613223 TABLE OF CONTENTS Prospectus Supplement Page About This Prospectus Supplement viii Valuation
Price Objective Change
sed his intention to leverage the technology that the Investment Bank has and the investments that the Consumer Bank ha
integration risks. Upside risks to our price objective are better than expected equity markets, performance, or flows, or an accretive acquisition. Morgan Stanley (MS) We value the brokers based on the relationship between ROE (return on equity} and PB (price to book), which has a high historical correlation. Ou
Page: HOUSE_OVERSIGHT_014385 →Entities connected to both Morgan Stanley and UBS Investment Bank

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